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Apr 01, 2023
Lumentum Q3 2023 Earnings Report
Reported fiscal third quarter 2023 financial results, impacted by customer inventory digestion.
Key Takeaways
Lumentum's fiscal third quarter 2023 results reflect the impact of customer inventory digestion. The company is prioritizing expense controls, accelerated attainment of acquisition synergies, and cash generation.
Net revenue for the fiscal third quarter of 2023 was $383.4 million.
GAAP net loss was $39.3 million, or $0.57 loss per diluted share.
Non-GAAP net income was $51.8 million, or $0.75 per diluted share.
The Company held $1,667.2 million in total cash, cash equivalents, and short-term investments at the end of the fiscal third quarter of 2023.
Lumentum
Lumentum
Forward Guidance
Lumentum expects net revenue in the range of $350 million to $380 million, non-GAAP operating margin of 8.5% to 11.5%, and non-GAAP diluted earnings per share of $0.45 to $0.65 for the fiscal fourth quarter 2023.